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Hearsay Systems

Client engagement platform for financial advisors

Overview

Hearsay Systems provides a client engagement platform for financial services, helping advisors in wealth management, life insurance, and property & casualty communicate with clients via digital channels like social media, text, and mobile calls. The platform supports marketing, sales distribution, and compliance, with automation to capture, monitor, and supervise digital communications to reduce regulatory risk. It operates on a subscription model where firms pay for access to tools that enable personalized outreach, lead generation, and stronger client relationships. Its focus on regulatory compliance and communication automation tailored to financial services serves a broad range of clients from individual advisors to large institutions, with over 150,000 advisors and agents using its platform; the goal is to help advisors grow their business while staying compliant.

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About Hearsay Systems

Simplify's Rating
Why Hearsay Systems is rated
B-
Rated B on Competitive Edge
Rated B on Growth Potential
Rated C on Differentiation

Industries

Enterprise SoftwareCybersecurityFinancial Services

Company Size

201-500

Company Stage

Acquired

Total Funding

$51M

Headquarters

San Francisco, CA

Founded

2009

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Simplify's take

What believers are saying

  • Yext said Hearsay drove full-year fiscal 2026 revenue growth and multi-product expansion.
  • June 2026 release notes added unified login and cross-platform switching across Yext and Hearsay.
  • October 2026 help-center consolidation signals deeper product integration and lower operating duplication.

What critics are saying

  • Yext's October 2026 migration forces support tickets and redirects, disrupting customers.
  • Sub-$50,000 ARR customers show 86% NRR and 75% GRR in fiscal 2026.
  • If Yext deprioritizes Hearsay, financial-services churn erodes the acquired revenue base.

What makes Hearsay Systems unique

  • Yext integrated Hearsay Social and Relate into one compliant engagement stack in 2026.
  • Hearsay still targets regulated financial advisors with archiving, supervision, texting, and voice.
  • October 2026 RIA launch extends enterprise compliance tools to smaller firms.

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Funding

Total Funding

$51M

Below

Industry Average

Funded Over

4 Rounds

Notable Investors:
Acquisition funding comparison data is currently unavailable. We're working to provide this information soon!
Acquisition Funding Comparison Coming Soon

Growth & Insights and Company News

6 month growth

0%

1 year growth

-20%

2 year growth

-20%
Business Wire
Jun 11th, 2024
Yext to acquire Hearsay Systems

Yext, Inc. (NYSE: YEXT), the leading digital presence platform for multi-location brands, today announced that it has entered into a definitive agreem

Benzinga
Jun 10th, 2024
Yext Stock Falls On Q1 Results, Acquisition Of Hearsay Systems: The Details

Yext also announced it has entered into a definitive agreement to acquire Hearsay Systems for $125M and up to an additional $95M.

Business Wire
May 8th, 2024
Hearsay Systems 2024 Financial Services Social Selling Content Study Measures Impact Of 13 Million Social Media Posts

2024 Social Selling Content Study by Hearsay Systems highlights the latest trends in social media engagement across the financial services industry (Graphic: Business Wire)2024 Social Selling Content Study by Hearsay Systems highlights the latest trends in social media engagement across the financial services industry (Graphic: Business Wire)SAN FRANCISCO--(BUSINESS WIRE)--Hearsay Systems, the trusted global leader in digital client engagement for the financial services industry, today announced the findings of its 2024 Social Selling Content Study. Now in its seventh year, Hearsay’s 2024 Financial Services Social Selling Content Study aggregates data from over 100 leading global financial services firms—including Asset Management, Wealth Management, Property & Casualty insurance, Life & Annuities, and Banking—and their cumulative 260,000 agents and advisors who used the Hearsay platform during the calendar year 2023.This year’s study analyzed more than 13 million published social media posts, which garnered more than 21 million engagements across Facebook, LinkedIn, X (formerly Twitter), and Instagram. This data was extracted from the Hearsay Systems platform to uncover insights into the behaviors of corporate social media program administrators, field publishers, and consumers.“Our Social Selling Content Study is the most comprehensive of its kind, telling a story of what works best to drive engagement—and business—across financial services, both as a whole and by sector,” said Leslie Leach, Chief Marketing and Strategy Officer of Hearsay Systems. “Target audiences are consuming a high volume of financial content across more channels than ever before, yet engagement dropped this year. Our survey points out areas of weakness and opportunity so that firms can fine-tune their strategy and tactics to make the most of their social programs.”2024 Social Selling Content Study Key FindingsThe number of engagements is down: The data shows that individuals are consuming more content across channels overall, but they’re opting to engage with it less often than last year.The data shows that individuals are consuming more content across channels overall, but they’re opting to engage with it less often than last year. Instagram generated the most engagement: Instagram performed 3x better than Facebook and 14x better than X—but was also the least utilized social platform (again) this year.Instagram performed 3x better than Facebook and 14x better than X—but was also the least utilized social platform (again) this year

Silicon
May 8th, 2024
Hearsay Systems' 2024 Financial Services Social Selling Content Study Measures Impact of 13 Million Social Media Posts

Hearsay Systems, the trusted global leader in digital client engagement for the financial services industry, today announced the findings of its 2024 Social Selling Content Study.

Business Wire
Feb 21st, 2024
Financial Services Firm Co-Operators Adopts Latest Version Of Hearsay Sites And Sees Immediate Growth In Customer Pipeline

SAN FRANCISCO--(BUSINESS WIRE)--Hearsay Systems, the trusted global leader in digital client engagement for the financial services industry, today announced metrics associated with long-term customer Co-operators’ upgrade to the latest version of Hearsay Sites. Hearsay Sites provides Co-operators, a leading Canadian financial services co-operative, with an online destination for each agency—managed via a centralized platform for brand and regulatory compliance. Each site is highly personalized—serving as a valuable channel to attract new clients, collect information, and take action, effectively opening new opportunities for their advisors. In the six months since unveiling its redesigned Hearsay-powered websites, the firm has received approximately 10,000 client contact forms, with a 17% increase in form submissions over that time period; 60% of these were completed after business hours. Additionally, 40% of client call requests now come from areas of the country where Co-operators’ coverage is not as dense as in popular metropolitan centers. This data underscores that Co-operators has been able to extend its reach through a key customer touchpoint–advisors’ websites–to engage potential clients in additional geographic areas, at any time of day

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